These Biotech Stocks Have Rallied This Week; Can They Head Higher?
Penny stocks may have the potential to generate significant returns within a short span of time. But it’s also true that an investor needs to choose the sector wisely. Furthermore, hot sectors tend to produce more opportunities. The biotech sector has continued to be one of these.
In that regard, biotech stocks may possibly one of the best options for volatility breakouts. That’s due to the sustained growth the sector has experienced. On that note, here is a look at three biotech penny stocks that could be tracked by investors.
Biotech Penny Stocks To Watch #1: Aclaris Therapeutics (ACRS)
The first biotech penny stock to consider is Aclaris Therapeutics Inc. (ACRS Stock Report). The company is involved in developing treatments for immuno-inflammatory diseases.
On October 24, the company made a major announcement with regards to a new medicine called the A-101 45% Topical Solution. The company released highly positive updates with regards to the medicine from the trial known as THWART-1.
It goes without saying that it is a significant development for Aclaris and one that could propel the company. The optimism has been shared by the market as well and the stock has experienced a surge of as much as 80% in the month of October alone. As the biotech sector continues to roar, is ACRS set to follow suit?
Biotech Penny Stocks To Watch #2: IVERIC bio (ISEE)
The other biotech penny stock that has made significant moves recently is IVERIC bio Inc (ISEE Stock Report). The stock has been on fire since Monday this week after IVERIC made a significant announcement. Over the past two sessions, the stock has recorded highly impressive gains.
On Monday, the company announced that its C5 Inhibitor has managed to meet its primary endpoint. That resulted in the rally that has been witnessed since. On Monday, the stock soared by as much as 83% and the day after, it gained a further 26.5%.
Miss our first article on ISEE? Check Out 5 Penny Stocks That Are Rallying This Week; 1 Up 296% Since January
Biotech Penny Stocks To Watch #3: Oncolytics Biotech (ONCY)
Last but not least, Oncolytics Biotech Inc. (ONCY Stock Report) is the other company that has seen its stock soar over the past two weeks. This came after it made a major announcement. The company revealed that it was going to collaborate with PrECOG in order to conduct the breast cancer study for BRACELET-1.
The announcement proved to be a major positive and the stock has moved significantly over the past two weeks. The Oncolytics stock has gained as much as 100% over the period.